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> One way to kill the beast is by partial repeal of commercial properties. Apple claimed its real estate value’s worth is $200. That has nothing to do with Pro
by djrogers 8y ago
> One way to kill the beast is by partial repeal of commercial properties. Apple claimed its real estate value’s worth is $200.
That has nothing to do with Prop 58 - it’s accounting rules and depreciation there...
- manfredo 8y agoCould the government use this as a basis to purchase this property for $200 via eminent domain?
- godzillabrennus 8y agoSure. Then Apple would use its money to replace the government. They’d end up with a $2B payday from the government and their land back when the new regime took power.
- tankerdude 8y agoYou don’t own a home or have depreciated a business property have you? You can depreciate the value of a building over time but not the property itself. Land value is still land value and will never be “depreciated”. What happens is that folks like Disney in Anaheim as well as it seems, Apple owned the land for a long time. So Disney’s real estate tax bill is near nothing for Disneyland. That’s the pain of prop 13. Should have been modified for sure!